Prakash Yadav Gets Bail In Fera Case

Prakash Chandra Yadav, a key accused in the Rs 133-crore urea import scandal, was yesterday granted bail by the Delhi High Court in a Foreign Exchange Regulation Act (Fera) violations case relating to the $200,000 kickback allegedly received by him in the import deal. Justice J K Mehra, while granting bail, observed that Yadav, son of former union fertiliser minister Ram Lakhan Singh Yadav, would be released from Tihar jail after furnishing a bail bond of Rs 1 lakh and two local sureties of the like amount.

Prakash Yadav, who allegedly received $200,000 kickback for materialising the two lakh metric tonne fertiliser import deal between a Turkish company, Karsan Ltd, and National Fertiliser Ltd, was asked to surrender his passport to the Enforcement Directorate and not to leave the country without the permission of the trial court. The court also asked him to furnish details of every change of address to the directorate and join investigation as and when required by the investigating agency.